SBI Elite Credit Card

State Bank of India is a public sector bank which is recognised as the best financial statutory body. Its headquarters is located in Mumbai, Maharashtra. For its remarkable service to the people of the nation, this bank has set its rank high.

SBI offers its Elite credit card for all those who are seeking financial assistance with ease of usage. This credit card comes with valuable reward options and cashback for its users. Elite credit card by SBI is a premium card which charges you INR 2,999 annually for its service.

SBI Elite credit card offers you two reward points on spending every INR 100 on several categories like dining, shopping, and travel purposes. You also get airport lounge access for domestic airports in India for free.

SBI Elite Credit Card Details

• SBI Elite credit card offers you reward points worth INR 300 as a welcome gift on spending for the following brands: Yatra, Bata/Hush Puppies, Aditya Birla Fashion, Pantaloons, and Shoppers Stop.
• You can also get 5X reward points on dining and movie tickets. You can get a 25% discount on dining bills at restaurants which are partnered with the bank.
• On retail shopping, you can earn ten reward points if you spend INR 100 on grocery shopping or dining, movies and other departmental stores.
• You also receive complimentary domestic and international airport lounge access every year. For domestic airports, you get 8 lounge access, and for international airports, you get 4 lounge access in a year.
• With this credit card, you can also get air accident insurance coverage worth INR 50,000.
• You can get a free golf session with this credit card every month and 50% off on the fees of golf lessons.

Advantages and Disadvantages of SBI Elite Credit Card

Advantages	Disadvantages
The SBI credit card offers reward points worth 5X for customers spending INR 100 on groceries, departmental stores, dining, movies and other categories.	The Elite credit card does not offer any travel benefit for customers travelling by railway.
You can also get rewards from partnered restaurants for dining purposes.	You also do not get rewards for spending on fuel and government service transactions.
Get a free golf session in a month with this credit card and get a 50% discount on the fees of the golf session.	The monetary value of a reward point is less as compared to other cards. For four reward points, you receive INR 1 as the monetary value.
SBI Elite credit card offers complimentary airport lounge access for customers 8 times a year.	If you need to waive off the annual fee of the credit card, you have to spend INR 3 lakhs, which is quite high for all customers to spend.
You also receive complimentary airport lounge access for international trips every four times a year.
SBI Elite credit card offers air accident coverage worth INR 50,000, including fraud liability cover of INR 1 lakh.

SBI Elite Credit Card Reward Offer

• You can receive 10 reward points for spending every INR 100 on groceries, dining, movie tickets, and all other categories.
• The maximum reward cap you can receive is 5X through the usage of this credit card.
• You can convert your reward points into INR 1 and use that amount for paying other bills. Four reward points are equal to INR 1.

SBI Elite Credit Card Milestone Benefits

• With this credit card, you can receive a Pizza Hut e-coupon, which is worth INR 1,000 on spending INR 50,000 on a quarterly basis.
• Elite credit card also offers e-vouchers, which are worth INR 7,000 from Yatra/Pantaloons, on spending INR 5 lakhs annually.
• The membership fee can be waived off on spending INR 3 lakhs using the credit card.

Welcome Benefits of SBI Elite Credit Card

SBI Elite credit card comes with a welcome perk of a voucher worth INR 3000 from any of these brands: Pantaloons, Yatra, Shoppers Stop, Aditya Birla Fashion, and Bata.

Travel Benefits on SBI Elite Credit Card

• With Elite credit card, you can get complimentary airport lounge access for domestic airports 8 times in a year.
• In terms of international airports, you can get lounge access for lounge 4 times a year.
• You get air accident coverage worth 50 lakhs with the usage of this credit card.

SBI Elite Credit Card VS AU Axis Bank Atlas Credit Card

Reward Structure

Credit Card Name	Reward Structure
SBI Elite Credit Card	This credit card offers 10 reward points on spending INR 100 on groceries, dining, movies, hotel bookings, and other categories.
Axis Bank Atlas Credit Card	This credit card offers five EDGE miles for spending INR 100 on Axis Bank travel, hotel bookings, and dining.

Reward Rate With Partners

Credit Card Name	Reward Rate With Partners
SBI Elite	You can get additional reward points with partnered restaurants and brands like Yatra, Bata, Pantaloons, and others.
Axis Bank Atlas	There is no extra slot available for earning reward points through the credit of Atlas by Axis Bank.

Joining Fees

Credit Card Name	Joining Fees
SBI Elite	The joining fee of SBI Elite credit card is INR 2,999 plus GST charges.
Axis Bank Atlas	Axis Bank Atlas credit card charges INR 5,000, excluding GST charges as joining fees.

Cashback Max Cap

Credit Card Name	Cashback Max Cap
SBI Elite	You can earn a maximum of 5X reward points on spending every INR 100 on all categories.
Axis Bank Atlas	There is a maximum cap of INR 800 every month on earnings for dining. Moreover, there is a cap of INR 400 on earning fuel discounts.

Additional Benefits

• SBI Elite Credit Card: SBI Elite credit card offers complimentary airport lounge access for both domestic and international airports. 
• Axis Bank Atlas Credit Card: Axis Bank Atlas credit card offers a fuel surcharge waiver of 1% on spending INR 400 to 4,000 on fuel stations across India.

Why Choose the SBI Elite Credit Card?

• Welcome Benefits: The balance transfer fee and Late payment fee are not applied to you when you sign up with the SBI Elite credit card, and you get a welcome gift worth INR 300 in reward points. These points can be wheeled for shopping at selected brands such as Yatra, Bata/Hush Puppies, Aditya Birla Fashion, Pantaloons, and Shoppers stop.
• Reward Benefits: Dining and Movie Reward: There is always a chance that consumers or cardholders can benefit from a competitive 5X reward that is given for all dining and movie ticket spends, which means 10 reward points for every INR 100 spent. Also, the Hungry Go Getter offer is an attractive promotion that allows cardholders to accumulate a 25% discount on dining bills at participating outlets, and it is only available for the American Express version of the card. However, the solution is to implement retail shopping loyalty that allows customers to get ten reward points for every INR 100 spent on groceries, dining, movies, and other essential items available in the departmental stores.
• Travel Benefits: The SBI Elite credit card is best suited for the travelling freak in you. Benefits that will be available to cardholders include 2 free domestic airport lounge visits per quarter using the MasterCard/Visa/American Express card. In addition, they can have four free international airport lounge visits a year in total, two per calendar quarter under the Priority Pass programme of membership. For the benefit of the distinct MasterCard variant, it also gives up to a 15% rebate and discount on the best rates of Lalit and F&B hotels. On the other hand, the Visa variant offers an opportunity to enjoy privileges in 900 hotels in different countries and represents exclusiveness.
• Milestone Benefits: However, spending milestones in the case of the SBI Elite credit card also have its own quota of incentives to offer. The cardholders get a free Pizza Hut e-voucher worth INR 1,000 with every expenditure of INR 50,000 quarterly card expenses. From the above details the members can avail an e-voucher of Rs. 7,000 for shopping either in Yatra or Pantaloons once they spend INR 5 lakhs per year. Further, the additional expenses, such as the annual membership renewal fee, are not laden on the company once the firm is expanding over INR 3 lakhs in a year.
• Golf Benefits (Mastercard Variant): Well-targeted perks appeal to avid golfers, and as such, the SBI Elite credit card is available with a Mastercard branding. There are so many privileges that cardholders enjoy, which include a maximum green fee as many as 4 times a month, thus offering the customer all the opportunity to indulge in his/ her favorite sport. Besides, they are privileged to pay half the charges on golf games upon opening accounts, making the games more affordable. However, the card has been proven to be even more attractive since cardholders are allowed to receive one golf lesson per month at no charge.

Who Can Apply for an SBI Elite Credit Card?

• Age Requirement: The general requirement for the SBI Elite Credit Card is that the applicant has to be within the age of 18 years, and the applicant cannot exceed 70 years of age. This helps to ensure that a person not less than the age of 18 is legally capable of being considered an adult capable of entering into a credit agreement. Furthermore, it is realistic considering the fact that a cardholder can exhaust all the features in the card within a reasonable period of time when the upper age is set appropriately.
• Credit Score: The SBI Elite Credit Card is only provided if the applicant has achieved the benchmark of a minimum 750 on credit score. There is also a measure of credit standing that shows that the individual is a responsible borrower and has a low credit risk, makes regular payments, and has never missed payments. Paying bills on time proves to the bank that the applicant is competent enough in credit management, hence increasing the chances of being issued an Elite Credit Card.
• Nationality: The SBI Elite Credit Card is offered to the residents of India only, and it comes with numerous benefits. Employment Provident Cards can, therefore, only be acquired by applicants who can prove their Indian nationality. This criterion makes sure that only Indian citizens who meet the legal requirements, have access to the card, a requirement that any bank would approve of.
• Add-On Cardholder Requirement: For those looking for additional cardholders on the SBI Elite Credit Card portfolio, the additional cardholder must be 15 years old at least. This requirement helps avert a situation where additional cardholders, for example, members of a family, are below the legal age of using the card. The bank wants to reduce the risk posed by people who may misuse the card, but it is also their way of allowing the main cardholders to extend the use of the account to other people of their trust.

Documentation Required for SBI Elite Credit Card Approval

• Identity Proof (PAN, Driving Licence, Aadhaar Card, etc.): The purpose of identification is to ensure that the applicants are genuine, and hence they are required to produce a valid identification card. It refers to a copy of any one of the clear photograph-bearing identification cards issued by the government of India, including a PAN card, driving licence, Aadhaar card, passport, etc.
• Proof of Income (Latest Salary Slips, Form 16, Copy of IT Returns, etc.): To evaluate the creditworthiness of the applicant, proof of income is essential since it will reflect his/ her ability to handle credit. This could be in the form of actual recent salary statements from the current employer, form 16 in case the applicant is a payslip holder, ITR documents or any other relevant documents that may show the applicant’s income.
• Filled Application Form: The applicants are supposed to fill only the specific application form which shall be availed by the SBI. Some of these forms capture the basic details of the applicant since it is the preliminary step to processing their credit card application.
• A Copy of Form 60 or PAN Card: For identity verification and purposes of taxation as well, candidates have to submit and attach either Form 60, where the candidate does not possess the PAN card or a photocopy of the said card.
• Proof of Residence (Passport, Ration Card, Electricity Bill, Aadhaar, etc.): It cannot be overemphasised that only original documents can be accepted, and proof of residence must be provided by the applicant to determine the address and the residency status of the applicant in India. Some of the documents which may be required to prove residency may include a form BI-166, a passport, any identity card or document which shows the resident’s current residential address, voter ID, ration card, electricity bill or any other government-issued ID.
• Colored Passport Size Photographs of the Applicant: Photos are required when applying for credit cards for identification purposes and are usually attached at the time of completion of the credit card application form. Ideally, these photographs should be taken within the last month, should be color pictures and should be in the prescribed size as ordered by the bank.

Application Process for SBI Elite Credit Card

• Step 1: Checking for their eligibility: The initial requirement is to go through the homepage of the SBI Bank site and go through the information on the SBI credit card section. Here, an option appears as ‘Check Eligibility. ‘ This option usually helps the customer decide whether or not they qualify for the preferred credit card as provided by SBI. These range from age, income, credit score, and nationality, among others; however, it is only advisable to limit oneself to four factors.
• Step 2: Give Required Data: Once you complete name checking, then you’re expected to produce the data that is required. These may include your current full name, date of birth, phone or mobile number, employer details, income and other information that the portal may deem necessary for it to process your application. Make sure client demographics data are updated and completely accurate at all times.
• Step 3: Upload Documents: When you have filled out the Information Form, the portal will lead you to select the list of documents that are required for the Credit Card application process. Such papers may include an identification card/renewed identification card/ municipal pass/ letter/ utility bill/ bank statement/ pay slip, PAN card, and passport-size photographs. Please ensure that these documents are clear and easily readable when uploaded to the portal according to the requirements mentioned.
• Step 4: Track Application: The moment you submit your application and all documents that you may be required to upload, you will be provided with a tracking identification number or reference number. The tracking ID you’ll receive will allow you to track the status of your application under the ‘Track Application’ tab in the portal. This makes it easy for you to monitor the progress of your application beginning from the time you deposit it to the time it is being approved.

FAQs